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为了应对金融危机,2009年财政部发行来了具有中国特色的地方政府债券。通过对中国地方政府债券的研究,揭示了在全球金融危机面前为了缓解对中国经济的负面影响,保障中国经济持续发展而发行地方政府债券的必要性。但与此同时,诸如信用风险、负债风险、地区间发展不平衡和导致银行坏账等问题也都迎面而来。文章从发行的审批制度、发行规模、融资渠道、监督机制、偿债机制和资金分配六个方面提出了中国地方政府债券今后的发展对策。
In response to the financial crisis, in 2009 the Ministry of Finance issued local government bonds with Chinese characteristics. The study of local government bonds in China reveals the necessity of issuing local government bonds in the face of global financial crisis in order to alleviate the negative impact on China’s economy and to ensure the sustainable development of China’s economy. But in the meantime, such issues as credit risk, liability risk, imbalance in regional development and bad debts leading to banks are on the rise. The paper proposes the future development countermeasures of the local government bonds in China from six aspects: examination and approval system, issue scale, financing channels, supervision mechanism, debt repayment mechanism and capital allocation.